by Sunday | Oct 21 | Economics JAMB
A. proportional tax B. regressive tax C. value added D. progressive tax Correct Answer: Option A – proportional tax Explanation A proportional tax is a flat rate payment of tax. The same level of tax is paid irrespective of the level of income or...
by Sunday | Oct 21 | Economics JAMB
A. total cost B. variable cost C. fixed cost D. marginal cost Correct Answer: Option C – fixed cost
by Sunday | Oct 21 | Economics JAMB
A. Theory of consumer behaviour B. Theory of cost C. Theory of production D. Theory of value Correct Answer: Option C – Theory of production
by Sunday | Oct 21 | Economics JAMB
A. it can intersect B. it slopes downward from left to right like that of a normal demand curve C. as it shifts rightward it indicates higher and higher level of satisfaction D. it does not intersect Correct Answer: Option A – it can...
by Sunday | Oct 21 | Economics JAMB
A. a rise in price of Bournvita B. an increase in income C. a tax on cocoa producer D. a fall in price of Bournvita Correct Answer: Option D – a fall in price of Bournvita Explanation A shift in demand does not affect other factors except price. Therefore, a...